Daily green/red candle | Page 50 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

need simple indicator for Daily green/red candle 2 replies

MT4 candle-by-candle manual backtesting 9 replies

How to make EA that send Open Price of Candle for every new candle 5 replies

Day's first H4 candle correlation to daily candle 14 replies

Correlation between first 4 hour candle and daily candle 1 reply

Attachments: Daily green/red candle
Exit Attachments

Daily green/red candle

  • #981
  • Jun 3, 2015 12:41am Jun 3, 2015 12:41am
Quoting lifeismine
{quote} Hi Steve, on my NZDUSD chart i have a green candle for monday and place my trade according to the rules and still in the trade is still in the trade is your pending order a s/r trade ?
Hi lifeismine;

Unless everyone has the same Candle Open time there will be different setup candles.

I am following Dimdel's rules of entry and exit I'm just using some discretion on the Trades I take.

I'm using 0.5% Exposure on each Trade I take with a maximum of 5% Exposure on each Basket of Open Trades, that's a maximum of Ten Open Trades at anyone time.
Attached Image (click to enlarge)
Click to Enlarge Name: 3rd June 15 NZD:USD D1 Chart.png Size: 108 KB
  • #982
  • Jun 3, 2015 12:51am Jun 3, 2015 12:51am
Quoting Dildubai
{quote} Steve. What about GBPCHF Sell Stop ? Looks like a continuation. DD

Hi Dildubai;

I only Trade my usual suspects EUR/USD AUD/USD USD/JPY GBP/JPY GBP/USD EUR/JPY USD/CAD NZD/USD AUD/JPY EUR/GBP I've dropped USD/CHF because of the correlation with the EUR/USD.

I'm Trading these pairs because they are the ones I know best and they are the Major Pairs.
  • #983
  • Jun 3, 2015 1:00am Jun 3, 2015 1:00am
Quoting mercante
{quote} Hi Xavier, what about the winning/losing order ratio? Did you filter the entries or did you just enter on every change of color?
Good Morning Mercante (what is your actual first name, I think that in this kink of post exchanges, it would be nicer to call each other by first name since after all we are forming a kind of community based on mutual help)
I will prepare an Excel Spreadsheet showing that, with the equity curve and the risk analysis.
I didn't filter anything, just applied the Dimdel basic rules.
What I have done in addition to these backtests (that I ill extend to other non correlated Forex pairs and to commodities, bonds and stock exchange to make sure the system is robust on all markets - this is my go/nogo test to trade a system) is to study the influence of the Breakeven.
The less we can say is that the result is puzzling: if we remove the BE rule
- on EURUSD results improve by +901 pips
- on GBPUSD results deteriorate by -30 pips.
So once again, further back testing needed to get a more global picture.
Xavier
  • #984
  • Jun 3, 2015 1:43am Jun 3, 2015 1:43am
I would like to make a suggestion to have all the same backtest way , with same results to compare

any other way ,please say it

i make my backtest with this way :

i dont use pips because , i can win 8% with 1000pips or 15 pips

Attached Image (click to enlarge)
Click to Enlarge Name: EXCEL.png Size: 66 KB


because i risk % 1/1 i care to have win>lose then select the most profitable pairs
  • #985
  • Jun 3, 2015 2:01am Jun 3, 2015 2:01am
Quoting stevepatt
{quote} Hi Dildubai; I only Trade my usual suspects EUR/USD AUD/USD USD/JPY GBP/JPY GBP/USD EUR/JPY USD/CAD NZD/USD AUD/JPY EUR/GBP I've dropped USD/CHF because of the correlation with the EUR/USD. I'm Trading these pairs because they are the ones I know best and they are the Major Pairs.
I trade quite the same list, with in addition EURAUD, and GBPAUD since these 2 ones (with GBPJPY) are the most volatile of the Forex Market, and volatility is really an help to a chartist/technical trader. The drawback is that spreads are higher.
I dropped EURGBP, not volatile enough.
I don't trade AUDJPY. Will investigate.
@+Xavier
  • #986
  • Jun 3, 2015 4:57am Jun 3, 2015 4:57am
Too bad for those who were long the cable (GBPUSD) this morning: 100 pips drop. The Daily Green/Red system triggered a long entry, so let's wait and see if a retracement happens.
Just a few words about British statistics, like the PMI this morning: as a matter of fact, you can predict the trend before the statistic is released!!!!
I have noticed that, during the 30 to 5 minutes just before the stat release, the stat must leak and insiders must have already the info since the trend during this pre-info realease often corresponds to the post info trend. For scalpers, a good trick to know.
This is only for Brits statistics, the major ones. I didn't notice that for not US stats: information must be much more securitized and leaks less likely.
@+Xavier
  • #987
  • Jun 3, 2015 5:16am Jun 3, 2015 5:16am
Quoting XavierParisF
Too bad for those who were long the cable (GBPUSD) this morning: 100 pips drop. The Daily Green/Red system triggered a long entry, so let's wait and see if a retracement happens. Just a few words about British statistics, like the PMI this morning: as a matter of fact, you can predict the trend before the statistic is released!!!! I have noticed that, during the 30 to 5 minutes just before the stat release, the stat must leak and insiders must have already the info since the trend during this pre-info realease often corresponds to the post info...
hi xavier

why must worry how many pips turn back the GBPUSD?
i mean whats the difference if i trade with risk % ?
perhaps something i miss because my english?
  • #988
  • Jun 3, 2015 5:39am Jun 3, 2015 5:39am
Quoting dimdel
{quote} hi xavier why must worry how many pips turn back the GBPUSD? i mean whats the difference if i trade with risk % ? perhaps something i miss because my english?
Morning Dimdel,

In principle yes you are right, we should not worry about such pullback within the Daily Green/Red system: such fluctuations are taken into account in the system, they are unavoidable, they already happened in the past and will happen again in the future. So we should just relax, wait and trust the system. never mind if it's a loss later on.
From the moment you manage the risk, with a % approach, it"s OK.

If you talk of % as the percentage of your account you must risk on a trade, I fully agree to use %.
If you talk of % as the gain percentage, I have more mixed feelings. I used % to record gains in the past when I was trading the stock markets, because it's more significant from a $ point of view considering that daily variations range from 0.5% to a few %. For Forex, the % daily variations are so small, it's not relevant for me to record or follow results in terms of %. I use big leverage (100) and large lots (100 000€) so 1 pip for me is 10€, so 100 pips is 1000€, so high stakes.

I personnaly didn't take the trade this morning on cable since I filter all my entries and SL with a dynamic / adaptative filter. My remark was just for people like me who like to observe markets charts and try to understand markets behaviour (which is not an easy task).
Cheers
Xavier
  • #989
  • Jun 3, 2015 5:50am Jun 3, 2015 5:50am
Quoting XavierParisF
{quote} Morning Dimdel, In principle yes you are right, we should not worry about such pullback within the Daily Green/Red system: such fluctuations are taken into account in the system, they are unavoidable, they already happened in the past and will happen again in the future. So we should just relax, wait and trust the system. never mind if it's a loss later on. From the moment you manage the risk, with a % approach, it"s OK. If you talk of % as the percentage of your account you must risk on a trade, I fully agree to use %. If you talk of %...

you have rigth
i agree
a serious trader must think with this way

but in my age i have no time to learn how to trade like pro... ( and i dont want it also)
so i must find a way to make more easy ( for me) the trading

if all of you see some things otherwise and little unlike the classical analysis ,
please ignore my view and Apply the method that is profitable for you
thanks
ΔΔ
  • #990
  • Edited 9:49am Jun 3, 2015 6:15am | Edited 9:49am
Great stevepatt,
I was thinking to implement support/resistance criteria in the EA.

Based on your comment on yesterday's USDCAD where price was around Resistance zone, and actually turned down, making loss of Buy trade, i have added 1 more indicator to check the support and resistance...

Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDaily_Prev.png Size: 45 KB


Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDailyToday.png Size: 46 KB


For Buy trade, If TP is Fib 150 level and if this level is around resistance zone, then buy/buystop will not be placed.
So ideally Fib 150 level should be below the resistance zone...

I am testing this attached build to find out results...Hope some can give it a thought...

Edit: Updated for a bug...
Attached File(s)
File Type: zip Dimdel_Daily_Candle.zip   174 KB | 1,283 downloads
  • #991
  • Jun 3, 2015 6:18am Jun 3, 2015 6:18am
I want a simple systems rather than sophisticated and complicated system... I'm Mid-age, do not want to use many of my brain (lazy style) :-), simple is classic, yet profitable..


I'll agree with both Dimdel & Xavier
Quoting dimdel
{quote} you have rigth i agree a serious trader must think with this way but in my age i have no time to learn how to trade like pro... ( and i dont want it also) so i must find a way to make more easy ( for me) the trading if all of you see some things otherwise and little unlike the classical analysis , please ignore my view and Apply the method that is profitable for you thanks ΔΔ
Combination of Edge, Pivot Zone, ADR and magic of PA is A+ Probability
  • #992
  • Jun 3, 2015 6:21am Jun 3, 2015 6:21am
@ abhijetpandi

I think the EA has a bug at the TrSL. I have set the TrSL at 140 fib but all the trades are closed after a few pips. I think that, instead of transfer the SL to BE when the price reach the 140 fib, the SL is to BE after a few pips of profit and then the most of trades are closed (because there is not enough room, and with the first small reverse the order hit SL). You can see an example in the pic I attach.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 365 KB
  • #993
  • Jun 3, 2015 7:36am Jun 3, 2015 7:36am
please allow me to post a text containing only Greek words
this text can read anyone greek witout know english.

"“The genesis of classical drama was not symptomatic. Aneuphoria of charismatic and talented protagonists showed fantastic scenes of historic episodes. The prologue, the theme and the epilogue, comprised the trilogy of drama while synthesis, analysis and synopsis characterized the phraseology of the text. The syntax and phraseology used by scholars, academicians and philosophers in their rhetoric, had many grammatical idioms and idiosyncrasies. The protagonists periodically used pseudonyms.
Anonymity was a syndrome that characterized the theatrical atmosphere. The panoramic fantasy, the mystique, the melody, the aesthetics, the use of the cosmetic epithets are characteristics of drama. Eventhrough the theaters were physically gigantic, there was noneed for microphones because the architecture and the acoustics would echo isometrically and crystal – clear. Many epistomologists of physics, aerodynamics, acoustics, electronics, electromagnetics can not analyze – explain the ideal and isometric acoustics of Hellenic theaters even today.
There were many categories of drama: classical drama, melodrama, satiric, epic, comedy, etc. The syndrome of xenophobia or dyslexia was overcome by the pathos of the actors who practiced methodically and emphatically. Acrobatics were also eup3horic. There was a plethora of anecdotal themes, with which the acrobats would electrify the ecstatic audience with scenes from mythical and historical episodes.
Some theatric episodes were characterized as scandalous and blasphemous. Pornography, bigamy, hemophilia, nymphomania, polyandry, polygamy and heterosexuality were dramatized in a pedagogical way so the mysticism about them would not cause phobia or anathema or taken as anomaly but through logic, dialogue and analysis skepticism and the pathetic or cryptic mystery behind them would be dispelled. It is historically and chronologically proven that theater emphasized pedagogy, idealism and harmony. Paradoxically it also energized patriotism a phenomenon that symbolized ethnically character and phenomenal heroism.”

thanks
  • #994
  • Jun 3, 2015 8:36am Jun 3, 2015 8:36am
Quoting sdatta
{quote} My pending order today- EU- Long (if order opens- might take few days to reach TP- but no one knows) GU- Long GJ- Long total exposure at risk 4.5%
all three in...
  • #995
  • Jun 3, 2015 10:56am Jun 3, 2015 10:56am
Quoting AbhijetPandi
Great stevepatt, I was thinking to implement support/resistance criteria in the EA. Based on your comment on yesterday's USDCAD where price was around Resistance zone, and actually turned down, making loss of Buy trade, i have added 1 more indicator to check the support and resistance... {image} {image} For Buy trade, If TP is Fib 150 level and if this level is around resistance zone, then buy/buystop will not be placed. So ideally Fib 150 level should be below the resistance zone... I am testing...
hi Abhi
i have the same problem

Attached Image (click to enlarge)
Click to Enlarge Name: ea.png Size: 115 KB
  • #996
  • Jun 3, 2015 11:35am Jun 3, 2015 11:35am
Dear All,
As promized, here is the detailed backtest on GBPUSD (see attached spreadsheet). I will do the EURUSD started by Khanridoi later on.
Figures are slightly different than in my previous post 971 (I did it quickly) but still positive (795 pips from January to May).
Not sexy equity curve but acceptable. Large drawdown of 390 pips in February.
The low number of trades (34) makes the exercice touchy from a statistics significance point of view.
You will find my comments in the spreadsheet.
This system must be improved with a filter for the SL and BE triggers (a few pips).
I simulated the system without TrSl & BE. It marginally improves the results (+50 pips).
I didn't simulate with an exit on the close when price is above Fibo 150 because I am not sure what the rule is. Dimdel maybe you can remind us the rule for this case.
If anybody wants to make the same exercice on other pairs, you are welcome!
@+Xavier
Attached File(s)
File Type: xlsx Daily GreenRed Backtest Results.xlsx   98 KB | 521 downloads
  • #997
  • Jun 3, 2015 12:01pm Jun 3, 2015 12:01pm
Quoting dimdel
please allow me to post a text containing only Greek words this text can read anyone greek witout know english. "The genesis of classical drama was not symptomatic. Aneuphoria of charismatic and talented protagonists showed fantastic scenes of historic episodes. The prologue, the theme and the epilogue, comprised the trilogy of drama while synthesis, analysis and synopsis characterized the phraseology of the text. The syntax and phraseology used by scholars, academicians and philosophers in their rhetoric, had many grammatical idioms and ...
Thanks Dimdel!
Greece is the mother of our languages...
I can read greek (but not speak it or understand it) just due to my maths education where all the greek alphabet is commonly used for the équations variables and symbols .
About greek drama and tragedy, your Government is not bad at it these days... Hope it will be solved soon.
Xavier
  • #998
  • Jun 3, 2015 12:54pm Jun 3, 2015 12:54pm
Quoting XavierParisF
Dear All, As promized, here is the detailed backtest on GBPUSD (see attached spreadsheet). I will do the EURUSD started by Khanridoi later on. Figures are slightly different than in my previous post 971 (I did it quickly) but still positive (795 pips from January to May). Not sexy equity curve but acceptable. Large drawdown of 390 pips in February. The low number of trades (34) makes the exercice touchy from a statistics significance point of view. You will find my comments in the spreadsheet. This system must be improved with a filter for the SL...

good job

if we make 24 pairs backtest will have the right basket
I had made a suggestion to organize a backtest all together
till now nothing
only 2 person made this backtest
Khanridoi and XavierParisF

I am concerned that we cant create a EA
if this STRATEGY had poor results probably we would very quickly EA
  • #999
  • Jun 3, 2015 2:50pm Jun 3, 2015 2:50pm
solid strategy I like the idea, no complex indicators. Good job @ dimdel. Been trying on a demo so far so good
Bay The earth is the Lord's and the fullness thereoff.
  • #1,000
  • Jun 3, 2015 3:18pm Jun 3, 2015 3:18pm
Next pair that I consider as difficult to trade: the "Loonie" (USDCAD).
Backtest OK, rather like the "Cable" (GBPUSD).
Same kind of remarks.
Trying to remove the BE is a bad idea on this pair (net deterioration of results).
See attached file.
Attached File(s)
File Type: xlsx Daily GreenRed Backtest Results V1.xlsx   105 KB | 505 downloads
24 traders viewing now